UAE, Chad discuss ways to boost investments
abu dhabi — The UAE-Chad Investment Forum, which attracted 15 ministers and 400 Emirati and Chadian companies, witnessed discussions on ways to increase Emirati investments in Chad.
The UAE Minister of Economy Sultan bin Saeed Al Mansouri, Chadian Minister of Foreign Affairs and African Integration Hussein Ibrahim Taha and Minister of Industrial Development and Private Sector Development in Chad Mohamed Hamed Qua attended the forum.
A ministerial delegation from Chad that included more than 10 ministers and over 400 Emirati and Chadian companies operating in different investment sectors, also took part in the forum, which kicked off on Wednesday morning at Jumeirah at Etihad Towers in Abu Dhabi. Addressing the opening session, Al Mansouri said that the UAE adopts a pioneering economic model based on flexibility and openness to build successful partnerships with countries across the globe. He further pointed out that African markets have risen to prominence recently.
“No doubt, the friendly country of Chad represents a significant destination for trade and investment co-operation amongst such important African markets,” the minister said.
Al Mansouri said that trade exchange between the UAE and Chad witnessed considerable growth over the past year rising from $177 million in 2015 to $245 million last year, pointing out that such a growth rate does not reflect the economic capabilities of both sides. — Wam